India Smart Cities Market Size & Outlook, 2023-2030
India smart cities market, 2018-2030 (US$B)
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India smart cities market highlights
- The India smart cities market generated a revenue of USD 18.7 billion in 2023 and is expected to reach USD 135.6 billion by 2030.
- The India market is expected to grow at a CAGR of 32.7% from 2024 to 2030.
- In terms of segment, smart utilities was the largest revenue generating application in 2023.
- Environmental Solution is the most lucrative application segment registering the fastest growth during the forecast period.
Smart cities market data book summary
| Market revenue in 2023 | USD 18.7 billion |
| Market revenue in 2030 | USD 135.6 billion |
| Growth rate | 32.7% (CAGR from 2023 to 2030) |
| Largest segment | Smart utilities |
| Fastest growing segment | Environmental Solution |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Smart Governance, Smart Building, Environmental Solution, Smart Utilities, Smart Transportation, Smart Healthcare |
| Key market players worldwide | ABB Ltd, Schneider Electric SE, Cisco Systems Inc, Telefonaktiebolaget L M Ericsson ADR, Honeywell International Inc, International Business Machines Corp, Itron Inc, Kapsch Group, Huawei Technologies, Microsoft Corp, Oracle Corp, Ams-OSRAM AG, SAP SE, Siemens AG, Telensa, Verizon Communications Inc, Vodafone Group PLC |
Other key industry trends
- In terms of revenue, India accounted for 2.5% of the global smart cities market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China smart cities market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 57.7 billion by 2030.
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Smart Cities Market Scope
Smart Cities Market Companies
| Name | Profile | # Employees | HQ | Website |
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India smart cities market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart cities market will help companies and investors design strategic landscapes.
Smart utilities was the largest segment with a revenue share of 29.41% in 2023. Horizon Databook has segmented the India smart cities market based on smart governance, smart building, environmental solution, smart utilities, smart transportation, smart healthcare covering the revenue growth of each sub-segment from 2018 to 2030.
The key factors driving the growth of the smart cities market in India are the rising population, diminishing natural resources, and surging migration in urban areas.
Governments across the country are taking various strategic initiatives to improve public safety, ensure the utilization of resources, and proper planning of cities’ infrastructure and construction projects are driving India's smart cities market growth. High government investments in smart cities are anticipated to create robust market growth opportunities in India by 2030.
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Our clientele includes a mix of smart cities market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India smart cities market , including forecasts for subscribers. This country databook contains high-level insights into India smart cities market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India smart cities market size, by application, 2018-2030 (US$B)
India Smart Cities Market Outlook Share, 2023 & 2030 (US$B)
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